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Weekly forecast Euro / British Pound technical chart
Symbol EURGBP

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.9050 to 0.9100). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.9050)
    • Resistance on 05/05/2011
    • Resistance on 06/30/2011
    • Resistance on 07/01/2011
    • Resistance on 07/04/2011
    • Resistance on 07/05/2011
    • Resistance on 10/07/2016
    • Resistance on 10/10/2016
    • Resistance on 10/13/2016
    • Resistance on 10/14/2016
    • Resistance on 10/17/2016
    • Resistance on 11/01/2016
    • Resistance on 11/02/2016
    • Resistance on 08/03/2017
    • Resistance on 08/04/2017
    • Resistance on 08/07/2017
    • Resistance on 08/08/2017
    • Resistance on 08/09/2017
    • Support on 08/15/2017
    • Resistance on 09/14/2017
    • Resistance on 08/24/2018
    • Resistance on 09/05/2018
  • Ending of entry zone (0.9100)
    • Resistance on 10/07/2016
    • Resistance on 08/11/2017
    • Resistance on 08/14/2017
    • Support on 08/17/2017
    • Support on 08/18/2017
    • Resistance on 08/28/2018

DateDecember 10, 2018 - 07:56
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.91500, beginning of downtrend is expected.
  • We make sure when the support at 0.88500 breaks.
  • If the resistance at 0.91500 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.8725 on 2018-10-10 and the trough at 0.8655 on 2018-11-13, and the probability of beginning of downtrend is decreased.
  • While the RSI resistance #1 at 63 is not broken, the probability of price increase would be too low.
  • The RSI bounced from the uptrend #2 and it prevented price from more losses.
  • A trough is formed in daily chart at 0.8810 on 11/28/2018, so more gains to resistance(s) 0.9005, 0.9050, 0.9100 and maximum to Major Resistance (0.9150) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 66.

Take Profits:

  1. 0.9005
  2. 0.8965
  3. 0.8930
  4. 0.8895
  5. 0.8850
  6. 0.8795
  7. 0.8725
  8. 0.8685
  9. 0.8620
  10. 0.8530
  11. 0.8400
  12. 0.8120
  13. 0.7840
  14. 0.7495
  15. 0.6935
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / British Pound (EURGBP) Sat, 23 Mar 2024
Euro / British Pound (EURGBP) Sun, 17 Mar 2024
Euro / British Pound (EURGBP) Sat, 9 Mar 2024
Euro / British Pound (EURGBP) Sat, 2 Mar 2024
Euro / British Pound (EURGBP) Sun, 25 Feb 2024